Taxing times for NPOs

2018-11-20 06:01
From left: Inyathelo executive director Nazeema Mohamed, Turning Point Consultants director Farida Lavangee and Inyathelo financial director Soraya Joonas at the workshop on audit, accounting and tax compliance for NPOs.PHOTO:

From left: Inyathelo executive director Nazeema Mohamed, Turning Point Consultants director Farida Lavangee and Inyathelo financial director Soraya Joonas at the workshop on audit, accounting and tax compliance for NPOs.PHOTO:

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Inyathelo (the South African Institute for Advancement) held a workshop on audit, accounting and tax compliance for NPOs at its Cape Town headquarters on Wednesday 14 November.

The event was conducted by Ridhwaan Khan and Farida Lavangee of Turning Point Consultants – a multidisciplinary consultancy offering comprehensive financial solutions for NPOs. Delegates were first introduced to Advancement, a multilayered approach that encourages organisations to work in an integrated way to attract resources for long-term sustainability. Workshop topics included accounting for NPOs, preparing for the reporting season, understanding the tax environment, and using Section 18A and other tax incentives for fundraising. There was also an opportunity for one-on-one follow-up sessions, the organisation says in a statement.

Nazeema Mohamed, executive director of Inyathelo, says: “Inyathelo’s mission includes helping to build strong, sustainable NPOs and higher education institutions. Capacity building is vital if NPOs are to survive and thrive. Good financial knowledge increases an organisation’s ability to sustain itself long term and to fulfil its mission.”

Turning Point Consultants director, Farida Lavangee, says: “Over the years, in working with NPOs, I have noticed that whilst there is lots of passion towards doing something good for society, there is a lack of knowledge around how to manage the actual organisation. This often leads to organisations failing to achieve their mandate. Knowledge is power and with the continuous changes in legislation and in business in general, organisations need to keep abreast.”

V For more information on Inyathelo, contact info@­inyathelo.org.za or 021 465 6981/2, or visit www.­inyathelo.­org.za.

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